Dow Jones Industrial Average Futures Down 144 Points Ahead of Yellen

The Blue-Chip Buyout Buzz Boosting Cyberark

Sep 24, 2015 at 8:59 AM
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The Dow Jones Industrial Average (DJIA) is eyeing a third straight day of losses, as anxiety builds ahead of Fed Chair Janet Yellen's speech later today. Although the head of the central bank isn't slated to take the podium until after the close, anxiety over whether or not she will provide clues to a rate-hike timeline has sent futures on the blue-chip barometer tumbling. Throughout the week, a number of Fed officials have indicated that interest rates will be increased by year's end, and that traders shouldn't be spooked by the state of the global economy. Yellen will speak at 5 p.m. ET.

Continue reading for more on today's market, including:

 

And now, on to the numbers…

150924ovfutures

Futures on the Dow Jones Industrial Average (DJIA) are nearly 144 points below fair value.

5 Things You Need to Know Today

 

  1. Japan's Nikkei returned from holiday to steep losses, while China stocks found a slight reprieve.
  2. The Chicago Board Options Exchange (CBOE) saw 538,719 call contracts traded on Wednesday, compared to 373,969 put contracts. The resultant single-session equity put/call ratio fell to 0.69, while the 21-day moving average dropped to 0.75. 
  3. The Volkswagen emissions scandal has brought automakers into the spotlight, and BMW is the latest car concern to get burned. The shares are down sharply overseas, after a German newspaper accused the firm of "significantly" exceeding diesel regulatory limits.
  4.  It's been a volatile week for biotechs, and today's action looks to be no different. Specifically, sector component Arrowhead Research Corp (NASDAQ:ARWR) is up 35% in electronic trading, after the company's hepatitis B treatment, ARC-520, showed promise in a mid-stage trial.
  5. Baidu Inc (ADR) (NASDAQ:BIDU) and Microsoft Corporation (NASDAQ:MSFT) have teamed up to allow Baidu.com to become the default search engine for those using MSFT's Edge browser in China. The news has done little to lift either equity ahead of the bell, with BIDU set to extend recent losses and MSFT on pace to pare more of Monday's gains.

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Earnings and Economic Data

 

Data on durable goods, initial jobless claims, new home sales, and Kansas City-area manufacturing will hit the Street today. As for earnings, Accenture (ACN), KB Home (KBH), Bed Bath & Beyond (BBBY), and  Pier 1 Imports (PIR) will report. Meanwhile, Skechers (SKX) shareholders will vote on the company's 3-for-1 stock split. To see what else is coming up on this week's docket, click here.

 

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